New Street Research - PayPal Holdings Inc (PYPL) PYPL US (BUY, TP: $100, +28%) PayPal - Everywhere CAC/LTV modeling, Amazon in focus; TP to $100

Report

New Street Research

Soomit Datta

EUR 8959.00 For Business Accounts Only

PYPL US (BUY, TP: $100, +28%) PayPal - Everywhere CAC/LTV modeling, Amazon in focus; TP to $100

We are pushing up our mid-term TM$ estimates on PayPal. Whilst remaining very constructive on Fastlane as a key product driver (see Faster Lane, bigger destination, Aug 20th), we are incorporating stronger debit adoption into estimates, modelling in more detail the direct and flywheel effects of PayPal Everywhere (and indirectly Venmo) and looking in more detail at how CAC/LTV can make sense (push back has been on the 5% cash back incentive and the merit/effectiveness of reward schemes).

30/09/2024 1 EN

Underlying

PayPal Holdings Inc

PayPal Holdings is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company's combined payment solutions include its PayPal, PayPal Credit, Braintree, Venmo, Xoom and iZettle products and services. PayPal's payment solutions enable the company's customers to send and receive payments. PayPal helps merchants and consumers connect, transact, and complete payments, whether they are online, on a mobile device, in an app, or in person. The company provides proprietary payment solutions accepted by merchants that enable the completion of payments on the company's Payments Platform on behalf of its customers.

See profile

US70450Y1038 NASDAQ Stock Market United States

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Soomit Datta

Other Reports on these Companies

Vermilion Research

Vital Signs: Actionable charts

In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.

EUR 44.80

September 20, 2024 September 20, 2024 1 EN

New Street Research

PYPL US (BUY, TP: $85, +24%) ADYEN (BUY, TP: EUR1,700) SQ US (Neutral, TP: $70) Real Time Payments: Risks for Visa/Mastercard, implications for PSPs - Global learnings

We continue our series of Deep dives into Payments (see previous: Unified Commerce, and Rise of the Merchants) with a look at Real Time Payment (RTP) developments. Adoption has been rapid on a global basis, notably at the consumer level in markets like Brazil, though is a significant laggard in the US. Momentum here is, however, slowly building through FedNow (launched only in 2023) with banks/FIs stalling, but with consumer demand we think high and with a Visa/Mastercard interchange settlement (early 2025 we expect) which should support tender steering and funnel consumers to lower cost real-...

EUR 8959.00

September 12, 2024 September 12, 2024 1 EN

AT&T selling DTV stake to TPG

AT&T is selling their 70% stake to TPG in a non-contingent transaction. The deal appears to value DTV at around 4x 2025 EBITDA (this is the multiple we have always used). When we saw this release, we thought it meant the DTV / Dish deal was off, but that deal was announced moments ago. We provide quick thoughts on the AT&T sale to TPG here, and will follow up on the Dish piece shortly.

EUR 8959.00

5h / 56m 5h / 56m 1 EN

Jonathan Chaplin

Jonathan Chaplin

2Q24 Broadband Trends: Are fiber builds accelerating?

In this iteration of “Broadband Trends” we explore whether fiber builds are accelerating and how it will impact Cable’s subscriber growth. We also reprise our work on the competitive positioning of the various operators based on relative NPS scores.

EUR 8959.00

6h / 11m 6h / 11m 1 EN

Pierre FerraguÊ

Pierre FerraguÊ

Gen AI big ideas series - Mobileye CEO Amnon Shashua - What can Gen AI do and not do for autonomous driving?

We had a fantastic conversation with Amnon Shashua, CEO of Mobileye on the state of the ADAS market, with a focus on technology approaches, the role of generative AI, and its pros and cons.

6h / 16m 6h / 16m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

PYPL US (BUY, TP: $100, +28%) PayPal - Everywhere CAC/LTV modeling, Amazon in focus; TP to $100

Vital Signs: Actionable charts

PYPL US (BUY, TP: $85, +24%) ADYEN (BUY, TP: EUR1,700) SQ US (Neutral, TP: $70) Real Time Payments: Risks for Visa/Mastercard, implications for PSPs - Global learnings

AT&T selling DTV stake to TPG

2Q24 Broadband Trends: Are fiber builds accelerating?

Gen AI big ideas series - Mobileye CEO Amnon Shashua - What can Gen AI do and not do for autonomous driving?

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe